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Battle Creek Real Estate Property Investors are a mix of people from all walks of life. With the loss of national confidence in Wall Street in recent years, investors have been pulling away from traditional 401k type investments, and placing them in Real Estate.
Battle Creek Real Estate Property Investors are siezing great opportunities.
Battle Creek Real Estate Property Investors
are able to invest in homes in the area that are between 2 or 3 bedrooms, and often can find foreclosure properties in many neighborhoods in the city for under $50,000 on average. Sometimes one can find a foreclosure that is well below that in price, but would require additional funds to make the property livable again.
Some Battle Creek Real Estate Property Investors seek to remodel a home completely, and then re-sell it for a profit once completed. Others seek to retain them as rentals.
In recent years, Battle Creek Real Estate Property Investors have run into difficulty with two city ordinances with that have made this type of investment challenging. The rental property ordinance numbered 1463, places additional restrictions on the landlord, which some have found too complicated to deal with, and thus choose to invest in similar homes outside the jurisdiction of this ordinance.
Therefore they go to invest in Harper Creek, Pennfield, Athens, Marshall, East Leroy and Bellevue. The other ordinance which can make a Battle Creek Real Estate Property Investors project challenging is the Vacant and Abandoned Structures Ordinance numbered 1456.
Investment opportunities have never been greater in Battle Creek.
If one is buying a foreclosure, and the foreclosure was vacant for more than 28 days, and among other points, conforms to the description in the ordinance of ‘Demonstrates lack of property maintenance’, ‘Has been boarded up or secured for at least 28 days’ or ‘Has utilities disconnected or not in use’ the property may have its occupancy status removed before one acquires it. Once the occupancy status is removed, it requires that the owner go through a city inspection, and the inspectors have been requiring that the older homes be brought up to current building codes, rather than the codes of the time the structure was built.
So for Battle Creek Real Estate Property Investors, these issues can be a deterrent, but at the same time, if you can take the time to navigate through these issues, it can make for less competition in buying homes. This can create some great opportunities and profitable acquisitions for Battle Creek Real Estate Property Investors.
If you are interested in getting started as a Battle Creek Real Estate Property Investor, give me a call at: 269-441-8182 or visit my website at: www.michaeldelaware.com.
When one talks about rental house buying in Battle Creek, we are talking about being or becoming an investor.
Being a rental property owner can be a great business, but the key to success if working with an experience Realtor.
When you are a serious investor, you learn a few tricks about rental house buying in Battle Creek.
Most investors learn that location is very important for demand. Demand means that vacancy rates will be low per house, and when you are talking about owning and managing several, this is key to success.
When I started rental house buying in Battle Creek, I asked other landlords about what were the areas of town they saw the most demand. In other words, what part of town did they never have trouble renting, and what sized home? Most of the feedback I received at the time indicated two areas of town, so I concentrated on those.
I also found out that three bedrooms were easier to rent than two bedrooms, so if you wanted little vacancy time, concentrate on three bedrooms. The other option is to buy a foreclosure that can be converted into a three bedroom. However, it is much easier to buy an existing three bedroom than to do extensive remodeling.
Buying a rental house in a high demand area will reduce vacancy ratios.
Rental house buying in Battle Creek requires doing some research and it is recommended that you talk to other landlords. There is a local organization called the ‘Rental Property Owners Association’ (RPOA) and they can be a great resource for information for the starting landlord. So I would recommend that any investor start there, and even join, because they can be a wealth of local information.
Rental house buying in Battle Creek is a great business, but it is recommended that you work with an experienced Realtor so that you choose rental homes that are not only in the high demand areas, but also ones that do not require a lot of upfront investment to get them into use.
If you would like to get started in rental house buying in Battle Creek, visit my website at: http://www.michaeldelaware.com/ or give me a call at: 269-441-8182.
Smart Investors in Battle Creek use an experienced Realtor to scout out the best deals in the area.
Michael Delaware
